Beijing Bytedance Technology Co. has reportedly kicked off an equity-fundraising round that could value the owner of China’s most popular news-aggregation app at as much as US$75 billion.
Chinese personal news recommendation app Toutiao is reportedly closing a deal to acquire part of Chinese online education firm Xuebajun’s businesses, according to Chinese local media insiders.
Joining the IPO rush by Chinese internet and technology startups, Toutiao – China’s biggest personalized news app’s parent Beijing Bytedance Telecommunications Co – is reportedly considering a Hong Kong IPO that may value it at over US$45 billion, according to a media report.
What is the most popular app in China? You’re probably thinking WeChat. Though that might still be true, WeChat now has a serious challenger whose meteoric rise has taken China by storm (and WeChat’s owner Tencent by surprise). That is Douyin (抖音, literally “shaking sound” in Chinese), one of the most popular short video apps in China, as well as worldwide. It is owned by ByteDance (a.k.a Toutiao), an AI-driven media company in China and one of the world’s most …
NewsDog, an Indian news aggregation and personal recommendation mobile app operator, has completed a US$50 million series C round led by Chinese tech giant Tencent Holdings Ltd.
Toutiao has learnt its lesson. Stung by a harsh government crackdown earlier this year, the personalized news app has launched an overhaul of its content and messaging to "shape correct public opinion," according to reports.
Venture capital firm GGV Capital has completed raising about RMB1.5 billion (US$236.3 million) for its debut RMB fund, according to an announcement on its official WeChat account.
China’s K-12 online education platform Knowbox has raised US$100 million in a series C round led by Yunfeng Capital, the latest in a string of investments in China’s online education market.
Tencent Holdings has launched its own online document product focused on multi-person collaboration similar to Google Docs, the latest move by the Chinese Internet giant in the office application segment.
Watching a stern Mark Zuckerberg testify before the U.S. Congress is a reminder how China’s tech companies, despite differences in economic structure and technological sophistication, follow similar trajectories with their American counterparts. Toutiao, China’s biggest personalized news app with a US$20 billion valuation, is experiencing a similar crisis these days as government and competitors attack its core business model.
China’s anti-pornography office has summoned 18 online video streaming and related media companies, including Douyu, Qiqiyi, Huajiao and Toutiao, asking them to strengthen video censorship, according to the authority’s website.
Zhang Yiming, founder and CEO of Toutiao, the US$20 billion unicorn which recommends news and other media contents via algorithm, issued an apology letter at midnight last night after Chinese regulator ordered his firm to shut down its joke app Neihan Duanzi permanently.
Four Chinese news apps, including personalized news recommendation app Toutiao and its rival Tiantian Kuaibao, owned by Tencent, have been removed from Chinese smartphone app stores, as China’s government strengthens online censorship.
At first glance, the investment strategy of veteran private equity manager Cynthia Zhang appears risky. As founder of recently launched private equity firm FutureX Capital, Zhang plans to make mid-to-late stage investments in promising Chinese tech stars, whose valuations are perhaps the highest in the world.
China’s State Administration of Press, Publication, Radio, Film, and Television (SAPPRFT) has issued a notice to local regulators to crack down on inappropriate online entertainment content made by editing or combining video clips that are illegally downloaded.
China’s online education platform 17Zuoye, owned by Sunny Education Inc., continues to be a magnet for investors. The latest investment is a US$250 million Series E round in led by Singaporean investment fund Temasek. The deal follows a $200 million investment by AI-driven news aggregation company Toutiao on March 7.
Tencent Holdings Ltd has led a pre-IPO investment of more than US$100 million in Chinese personalized news recommendation app Qutoutiao, valuing the start-up between US$1.3 billion to US$1.5 billion, according to local media.
China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money in at around 5pm each workday.
Chinese internet giant Tencent Holdings is making another major investment in the Indian online entertainment sector, with a US$115 million stake in music streaming app Gaana.
China’s Communist Party (CCP) has proposed revising the country’s constitution that would allow President Xi Jinping to continue serving as the country’s leader with no limits on terms. CCP said in an announcement via state-owned media outlets today that it will remove the provision that states Chinese President and Vice President "shall serve no more than two consecutive terms" from the constitution. There were over a dozen other proposed changes, but the key action is clearly the deleting of the …
China’s largest e-commerce company Alibaba Group is in talks to buy a minority stake Dailyhunt, an Indian news aggregator and e-bookstore backed by Chinese personal news recommendation app Toutiao, according to Indian media.
China’s largest news app Toutiao has reportedly acquired augmented reality-based selfie app Faceu for US$300 million, as the personalized recommendation news platform continues to expand its business scope.
Sequoia China has led a US$40 million series C round in Mountain View-based artificial intelligence-powered fraud detection solution provider DataVisor, according to an announcement.
China’s 200 million children under the age of 14 have a new lesson to learn: censorship.
Beijing Bytedance Telecommunications Co., Ltd., the operator of personalized news app Toutiao, has sued China’s largest search engine Baidu Inc. for unfair competition, claiming Baidu deliberately places negative news about Toutiao in top search results, according to a Toutiao WeChat post Monday night.
China’s largest networking platform Weibo, operated by Sina Corp. has closed some of its most popular portals for a week after the government accused it of spreading "pornographic, wrong-oriented and ethnically discriminatory information." Similar to Facebook, Weibo had more than 360 million monthly active users in 2017.
Beijing Bytedance Telecommunications Co., Ltd., the operator of Chinese personalized news app Toutiao, has announced a content partnership with U.S. social news and entertainment company BuzzFeed. Under the agreement, BuzzFeed’s content will become available to users of Bytedance’s various platforms including Toutiao, TopBuzz, and Xigua Video in China, Japan and other parts of the world.
Chinese tech giant Baidu Inc., Alibaba’s financial affiliate Ant Financial and Beijing Bytedance Telecommunications Co., Ltd., the operator of Chinese personalized news app Toutiao, have been summoned to answer question by China’s Ministry of Industry and Information Technology as they have failed to fully disclose the collection of personal data from users of their mobile apps, according to the government’s website.
After the Chinese government took actions to strengthen oversight of news aggregation and personal recommendation platform Toutiao, the US$20 billion company is implementing changes to appease regulators. The latest: hire thousands more human content overseers – with preferences for members of China’s Communist Party – to build the largest content screening team in China.
China’s venture capital and private equity industry continues to expand at an impressive pace with the top-ten most active firms participating in 460 deals, worth US$22 billion in total. That compares with 399 deals worth US$12 billion in 2016, with total deal value almost doubling from a year ago.
For China venture capitalists, 2017 was a big deal year. While overall VC activity kept the robust pace of a record 2016, the year of 2017 witnessed a large number of record-setting mega deals that defined the growth trajectory of China’s tech sector and made headlines worldwide.